Permanent Records closing due to the over-inflated rent crisis that’s pummeling New York

The main reason for the record store’s closing has nothing to do with being analog in a digital world, unfortunately it has to do with Real Estate. Like many businesses in Greenpoint, Permanent Records has fallen victim to an over-inflated, hyper-speculative, bullish market where astronomical rents and lost leases are becoming the norm. Cool folks like Permanent Records, who found love in Greenpoint, are now priced out of the neighborhood that once welcomed them with open arms.

“Permanent Records will close the Franklin St. location not because we’re not doing well, but simply because we’ve lost our lease. None of you reading this will be shocked to hear that after months of looking for an affordable suitable store front, we’re now priced out of the neighborhood we helped to shape. It’s an all too common story in the NYC retail / small business landscape.”